Why Do You Need Debtor Education?

What many Americans do not realize is that after you have filed for a chapter 7 or Chapter 13 bankruptcy in order for the slate to wiped clean and your debts to be properly discharged you must undergo a mandatory 2 hour Debtor Education course. This course must be completed after you have received the Pre-filing Credit counseling session required to file a Chapter 7 or 13 bankruptcies.

The course is required by law and must be a minimum of the aforementioned 2 hours. The main thrust of this education course is to assist individuals post-bankruptcy with managing their future finances. The idea is to ensure that people understand what lead them down the road to bankruptcy in the first place and give them advice on how to avoid the same path again. Tips on sound money management procedures as well as advice on how to use credit a little more wisely in the future are all part of the program. You will also learn the importance of budgeting as well as exactly what that entails.

The price for this mandatory course is no different if you are filing alone or have joint filers in your bankruptcy. Remember that contacting a qualified and experienced Bankruptcy lawyer is always in your best interest before making any decisions. They are able to assist you in navigating the uncharted waters you are now facing. Having a professional on your side can make a huge difference and alleviate the stress involved.

Are you a candidate for bankruptcy?

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